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QUICK HIT: The Shifting Behaviors of Affluent Shoppers

Artificial intelligence and Amazon are driving greater price sensitivity and driving affluent shoppers toward lower-price channels according to new research out from First Insight.

42 percent of affluent shoppers, according to the survey, now frequently shop at discount retailers versus only 27 percent at full price retailers, with 36 percent saying their discount shopping has increased. Twenty-one percent of affluent respondents also reported they were more inclined to visit online discount retailers, compared to only 12 percent of overall respondents.

“The results of the survey indicate that industry disruptors are impacting the behavior of affluent consumers and changing the way they make purchase decisions,“ said Greg Petro, CEO and founder of First Insight. 

“A growing number of affluent consumers shopping at discount retailers over full priced retailers is an important finding, as it indicates they have already become more price sensitive. It is more critical than ever that retailers and brands offer differentiated products at the right price in order to attract the informed, affluent shopper on the hunt for deals both in-store and online.”

Price Sensitivity and Affluent Shoppers
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